Precious metals buyer cashes in on Costco's gold bar rush: 'I consider this savings'

Costco is cashing in on the rush to buy gold as rate cut uncertainty and other market pressures drive up the price of the hot commodity. One buyer who purchased a gold bar at the wholesaler weighed in on the craze. "I've always been buying gold and silver. I've been buying it for probably 30 years now.

Since Costco launched gold in the fall, sales have risen dramatically, according to a research note from Wells Fargo earlier this week. In the note, Wells Fargo equity analyst Edward Kelly wrote Costco’s sales of gold and silver "seem to have grown considerably" since then-CFO Richard Galanti announced in mid-December the retailer had "sold over $100 million of gold during the quarter.

Source: Entertainment Trends (entertainmenttrends.net)

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